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Unfunded Startup Cyfeon First Austin Company to Compete in Prestigious "Startup Battlefield" at NYC TechCrunchCreated Answer Factory to Utilize All Data Sources (May 21, 2012)
AUSTIN, TX -- (Marketwire) -- 05/21/12 -- Cyfeon (www.cyfeon.com), an Austin startup that has been beta testing its software for only a few months, caught the attention of organizers at TechCrunch's "Disrupt NYC" and was chosen to launch its product with about two dozen other new companies in the "Startup Battlefield." Cyfeon is the first Austin startup picked for the battlefield competition in the combined ten-year history of TechCrunch Disrupt events in New York and San Francisco. More than a thousand new companies from around the world applied to be a part of Startup Battlefield, and only 30 were selected.
"No matter what happens, this is already great early validation for us," Cyfeon CEO Brandon Smith said. "We began developing Answer Factory because we knew that businesses were making important decisions without using all available information. That's clearly a problem worth solving and it's what drives our company."
Cyfeon's technology, called Answer Factory, makes optimal use of the numerous sources of data that businesses need to make decisions. A drag-and-drop tool enables users to unite external and internal data in real time to improve "answer quality." Answer Factory uses the latest available data from any source at any time and any location. The technology eliminates the need for IT services to configure business solutions.
"Data should provide answers for companies, regardless of their size," said Cyfeon CTO Chance Coble. "Data is supposed to be a benefit to businesses. But the tools for interrogating data are diverse. It can reside in a database, big data tool, unstructured text and even social media, which makes searching and matching the information a tremendous challenge. Until we developed Answer Factory, there just wasn't a simple, user-friendly way to bring all of that evidence together and deliver the best answer to any query."
Startups in the TechCrunch battlefield present for 6 minutes to a panel of venture capitalists, angels, entrepreneurs, and savvy technologists before a winner is chosen to receive a $50,000 prize and the "Disrupt Cup." Previous winners have received millions in investment to grow their ideas and businesses. Cyfeon will be the first group of the 30 to demo for judges.
About: Cyfeon is an Austin, Texas based startup that created the Answer Factory to unite your company's data with the world's information to improve "answer quality." www.cyfeon.com
James C. Moore
Copyright @ Marketwire
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